Snowflake Stock Surges 4.2% in 2025 After KeyBanc’s Overweight Rating and $185 Price Target
Snowflake shares climbed 4.2% following KeyBanc's initiation of coverage with an overweight rating, highlighting Snowflake’s unique advantages over AWS and Azure amid a strategic AI-driven leadership shift.
Industry experts anticipate that Snowflake’s recent CEO change will usher in a stronger focus on artificial intelligence leadership.
Key Highlights
- Snowflake’s stock jumped 4.2% on Thursday after KeyBanc Capital Markets initiated coverage, assigning an “overweight” rating and setting a $185 price target.
- KeyBanc emphasized Snowflake’s dominant position as an independent cloud data warehouse, noting its user-friendly platform, powerful data-sharing network effects, instant scalability, and dynamic elasticity.
- The firm distinguished Snowflake from major cloud providers like Amazon AWS and Microsoft Azure by its independence, ease of use, comprehensive platform, and robust data sharing capabilities.
- Snowflake’s leadership team features seasoned executives from tech giants including Google, Microsoft, and Oracle, enhancing its strategic direction.
- Although shares dipped in late February following the appointment of new CEO Sridhar Ramaswamy, KeyBanc believes this transition will drive increased AI-focused initiatives.
- Despite Thursday’s strong gains, Snowflake’s stock has experienced a 20% decline year-to-date, closing at $159.35.
Snowflake (ticker: SNOW) continues to capture investor interest with its innovative cloud data solutions and promising AI-driven growth potential as it navigates leadership changes in 2024.
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